If Robert Kaplan still had a say in the Fed interest rate issue, he would push for a 0.5 percentage point rate cut at this week's Fed meeting. The former Dallas Fed president said on Tuesday that a bold move to cut 50 basis points would better position policymakers in the second half of this year and future economic challenges. Kaplan stated: "If I had a vote, I would advocate for a 50 basis point cut at this meeting. I think the Fed is a bit late, they should have cut rates at the last meeting, if we were to start over again, I might prefer us to start cutting rates in July rather than September." According to the CME Group's FedWatch tool, the market currently believes there is about a 67% chance that the Federal Open Market Committee (FOMC) will approve a 50 basis point rate cut, with a one-third chance of a 25 basis point cut. The current range for the federal funds target overnight loan rate is 5.25% to 5.50%. (Global Market Report)